Green Dot Comments on CFPB’s Final Rule for Prepaid Accounts
October 05 2016 - 2:01PM
Business Wire
Green Dot Corporation (NYSE: GDOT) today comments on the CFPB's
newly released rule for the prepaid debit card industry.
Green Dot’s Founder and Chief Executive Officer Steve Streit
commented: “Green Dot embraces the new rule as recognition that the
industry we started more than 15 years ago continues to serve an
increasingly significant role in the everyday financial lives of a
growing number of American families. We fully support the CFPB's
mission to ensure fairness, integrity and consumer protections for
all participants in the financial system. For many years, Green Dot
has voluntarily provided full checking account style consumer
protections for its customers and has never charged overdraft or
penalty fees on Green Dot Bank's prepaid and checking products.
It's gratifying to know that prepaid can now move to a level
playing field that can better serve consumers while allowing the
entire industry to move past the period of regulatory
uncertainty.”
About Green Dot
Green Dot Corporation, along with its wholly owned subsidiary
bank, Green Dot Bank, is a pro-consumer financial technology
innovator with a mission to reinvent personal banking for the
masses. Green Dot invented the prepaid debit card industry and is
the largest provider of reloadable prepaid debit cards and cash
reload processing services in the United States. Green Dot is also
a leader in mobile technology and mobile banking with its
award-winning GoBank mobile checking account. Through its wholly
owned subsidiary, TPG, Green Dot is additionally the largest
processor of tax refund disbursements in the U.S. Green Dot's
products and services are available to consumers through a
large-scale "branchless bank" distribution network of more than
100,000 U.S. locations, including retailers, neighborhood financial
service center locations, and tax preparation offices, as well as
online, in the leading app stores and through leading online tax
preparation providers. Green Dot Corporation is headquartered in
Pasadena, Calif., with additional facilities throughout the United
States and in Shanghai, China.
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Green Dot
CorporationInvestors:626-765-2427IR@greendot.comorMedia:Brian
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